First-Time Buyer? Here’s How to Get Pre-Approved Fast

Buying your first home is exciting—but it can also be overwhelming. One of the smartest first steps you can take is getting pre-approved for a mortgage. Pre-approval not only gives you a clear idea of your budget, but it also shows sellers you’re serious and ready to move fast. Here’s how to get pre-approved quickly and confidently.

1. Understand What Pre-Approval Means

Pre-approval is a lender’s conditional commitment to provide you with a mortgage, based on your financial profile. It’s not the same as pre-qualification—which is a rough estimate. With pre-approval, a lender checks your credit, income, debts, and assets to determine how much you can borrow.

2. Check Your Credit Score

Your credit score plays a huge role in the pre-approval process. The higher your score, the more favorable your loan options will be. You can access your credit report for free from the major bureaus. If you spot any errors or issues, take care of them before applying.

3. Gather Your Financial Documents

Speed up the process by having your paperwork ready. Most lenders will ask for:

  • Recent pay stubs (last 30 days)
  • W-2 forms (last 2 years)
  • Federal tax returns (last 2 years)
  • Bank statements (last 2–3 months)
  • Government-issued ID
  • Details on any outstanding loans or debts

Having these in hand before you apply can help avoid delays.

4. Choose the Right Lender

Not all lenders are the same. Some specialize in helping first-time buyers and may offer more flexible programs, lower down payments, or even grants. It’s wise to compare a few lenders or work with a mortgage broker who can match you with the best fit.

5. Complete a Loan Application

Once you’ve selected a lender, you’ll complete a mortgage application—often called a 1003 form. This can typically be done online or over the phone and only takes about 15–30 minutes. Your lender will then pull your credit and review your documentation.

6. Get Your Pre-Approval Letter

If everything checks out, the lender will issue a pre-approval letter. This document outlines how much you’re approved to borrow and is usually valid for 60–90 days. You can now confidently shop for homes within your budget and show sellers you’re a serious buyer.

7. Be Ready to Act Quickly

Pre-approval speeds up the home-buying process, but timing is still key—especially in competitive markets. Stay in close contact with your lender, keep your finances stable, and be prepared to move quickly when you find the right home.